SLM FY 2018 Earnings Report — SLM Corporation Revenue & Financial Results | Market Cap Arena

SLM CorporationSLM

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.4B	—	31.3%
Op. Income	$559M	—	$491M	—	13.8%
Gross Margin	59.3%	—	65.6%	—	-6.3pp
Net Margin	25.9%	—	20.1%	—	5.7pp
EPS (Diluted)	$1.07	—	$0.62	—	72.6%
Free Cash Flow	-$103M	—	-$167M	—	38.4%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$767M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$285M
SG&A Expenses	$285M
Other Expenses	$272M
Operating Expenses	$557M
Cost & Expenses	$1.3B
OPERATING INCOME	$559M
Interest Income	$1.9B
Interest Expense	$522M
Other Income/Expenses	$0
INCOME BEFORE TAX	$559M
Income Tax Expense	$72M
Net Income from Continuing Ops	$487M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$487M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$472M
D&A	$14M
EBIT	$559M
EBITDA	$573M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$767M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$285M
SG&A Expenses	$285M
Other Expenses	$272M
Operating Expenses	$557M
Cost & Expenses	$1.3B
OPERATING INCOME	$559M
Interest Income	$1.9B
Interest Expense	$522M
Other Income/Expenses	$0
INCOME BEFORE TAX	$559M
Income Tax Expense	$72M
Net Income from Continuing Ops	$487M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$487M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$472M
D&A	$14M
EBIT	$559M
EBITDA	$573M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$487M
Depreciation & Amortization	$14M
Stock-Based Compensation	$32M
Deferred Income Tax	$30M
Other Non-Cash Items	$277M
Change in Working Capital	-$942M
OPERATING CASH FLOW	-$103M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$16M
Sales/Maturities of Investments	$78M
Other Investing Activities	-$3.3B
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$1.0B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$3.4B
NET CASH FROM FINANCING	$4.4B
FREE CASH FLOW	-$103M
Net Change in Cash	$1.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.6B
Short-Term Investments	$176M
Net Receivables	$1.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$106M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$22.3B
Tax Assets	$0
Other Non-Current Assets	$198M
TOTAL NON-CURRENT ASSETS	$22.6B
TOTAL ASSETS	$26.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$19.2B
TOTAL CURRENT LIABILITIES	$19.2B
Long-Term Debt	$4.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$225M
TOTAL NON-CURRENT LIABILITIES	$4.5B
TOTAL LIABILITIES	$23.7B
Common Stock	$90M
Additional Paid-In Capital	$1.3B
Retained Earnings	$1.3B
Treasury Stock	-$143M
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$26.6B
Total Debt	$4.3B
Net Debt	$1.7B